(Published August 25, 2016) The AnaCredit project started in 2011 to form a core set of low level and harmonized data on credit granted by euro area financial institutions. On the 18 May 2016, The European System of Central Banks (ESCB) settled plans for stage one of its Analytical Credit Dataset (AnaCredit). The purpose is to enable the work of the Single Supervisory Mechanism (SSM) by providing a full, true and up-to-date view of Eurozone credit data. This article explains what is new, what has changed in the final rules, and as a result, the work that banks now have to start in order to comply in time with the new deadline.
(Published August 25, 2016) This commentary states that emerging technologies and business models are equipping institutions with the strategies and capabilities needed to address escalating regulatory reporting requirements, which have become a region-wide reality.